312 N Elm St

Endeavor, WI 53930

$90,000B-

3 bd · 1.5 ba · 1,292 sqft · Built 1910 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,166/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$234
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $215/mo
• Annual: $2,579/yr
• Cap rate: 9.16%
• Cash-on-cash: 10.23%
• DSCR: 1.46
• 1% rule: 1.30%
• Cash to close: $25,200

Investor read

• This is a 3-bed/1.5-bath single-family listed at $90k.
• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 39 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($622 loan paydown + $3k appreciation (3.9% local appreciation)).
• Location reads 63/100 on livability (#599 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Portage Community School District (town): math 34% / reading 37% proficiency, ranked #218 of 342 in WI (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Endeavor Elementary (math 74% / reading 64%, grade A-, #24 of 1,041 statewide, top 3%, 67 students, 58% FRL); Portage High (math 22% / reading 32%, grade F, #260 of 483 statewide, top 58%, 706 students, 32% FRL).
• Zoned-school proficiency averages 48% at this address vs 36% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Portage Community School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.6% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 95 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).
• Marquette County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $9k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.